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Business Profile
Economy: Angola is rich in natural resources, including oil, coffee and diamonds. In the years immediately after independence, economic development was stunted by the departure of 700,000 Portuguese who controlled the Government and most of the economy. Thereafter, a quarter century of civil war reduced the country to ruins. Although a comprehensive ceasefire proved elusive, some years of relative stability in parts of the country have allowed some economic development to take place. Agriculture employs over 50 per cent of the population but production has declined so much that, from being a net exporter, Angola now imports over half its food requirements. Fishing, which almost ceased to exist, is now being rejuvenated with foreign aid. New oil and gas fields off the shore of Cabinda (an enclave in the north of the country) are being developed but Angola has only one refinery and so exports most of its oil in the crude form. The Government is looking to a new cooperative agreement with Algeria, and partial privatisation of the state oil firm, Sangol, to boost production and refining capacity. The only other industry of any size is diamond mining, which has been a vital source of revenue for both sides in the civil war. Angola’s largest trading partners are Portugal, Brazil, France and the USA, from whom it imports much of its food and almost all its manufactured equipment.
Business: Lightweight suits are recommended. Many Angolan businesspeople dress casually, wearing open-neck shirts. Any dark colours can be worn for social occasions. As Portuguese is the official language, a knowledge of this is an advantage in business transactions; French and Spanish are also useful. There are limited translation services. Avoid June to September as Angolans tend to take their holidays at this time. Office hours: Mon-Thurs 0730-1230 and 1430-1830, Fri 1430-1730; some offices open Sat 0830-1230.
Commercial Information: The following organisation can offer advice: Câmara de Comércio e Indústria de Angola (Chamber of Commerce and Industry), Largo do Kinaxixi 14, 1 Andar, CP 92, Luanda (tel: (2) 344 506 or 344 541; fax: (2) 344 629; e-mail: ccira@ebonet.net); or The US-Angola Chamber of Commerce, 1100 Connecticut Avenue, Suite 1000, NW, Washington, DC 20036, USA (tel: (202) 223 0540; fax: (202) 223 0551; e-mail: 75031.3361@compuserve.com; website: www.us-angola.org).
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